IndianOil plans to seek approval from its board next month, for the Rs 5,000 crore paraxylene unit at the Haldia refinery. MCC PTA India Corporation Pvt. Ltd. (a subsidiary of Tokyo-based Mitsubishi Chemical Corporation) has set up a plant for producing purified terephthalic acid (PTA) - Paraxylene produced at the proposed plant will find ready use as a feedstock in MCC's PTA plant. The paraxylene facility will be located in the 86-acre additional land recently acquired by the company in Haldia from the port trust authorities. IOC is currently commissioning Rs 1,600-crore hydrocracker project in Haldia and has recently firmed up plans for setting up a delayed coker unit for increasing the yield.
This plant, if approved, will be IOC's fourth petrochem facility. The others are :
A full-fledged petrochemicals complex, including naphtha cracker at Panipat, due to be commissioned in October-November 2009.
15 mln ton refinery and aromatics facility producing paraxylene and benzene at Paradip. Construction of the refining and aromatics complex is expected to begin in April-May.
A 360,000 tpa paraxylene unit at Koyali refinery in Gujarat at an estimated cost of Rs 2,000 crore.